Handelsbanken Fonder AB Invests $910,000 in Heartflow, Inc. $HTFL

Handelsbanken Fonder AB bought a new stake in shares of Heartflow, Inc. (NASDAQ:HTFL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 31,000 shares of the company’s stock, valued at approximately $910,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new position in Heartflow in the 3rd quarter worth approximately $48,871,000. Legal & General Group Plc purchased a new position in shares of Heartflow in the third quarter worth $59,000. Franklin Resources Inc. bought a new position in shares of Heartflow during the third quarter worth $10,829,000. UBS Group AG purchased a new position in Heartflow during the third quarter valued at $5,130,000. Finally, Sei Investments Co. bought a new stake in Heartflow in the 3rd quarter valued at $303,000.

Insider Buying and Selling

In other news, CEO John C.M. Farquhar sold 15,560 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $39.06, for a total transaction of $607,773.60. Following the transaction, the chief executive officer owned 420,720 shares of the company’s stock, valued at approximately $16,433,323.20. The trade was a 3.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Campbell Rogers sold 9,219 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $41.23, for a total value of $380,099.37. Following the sale, the insider owned 86,459 shares in the company, valued at $3,564,704.57. The trade was a 9.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 131,365 shares of company stock worth $4,257,216. Company insiders own 7.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on HTFL. Robert W. Baird set a $45.00 price objective on shares of Heartflow in a report on Friday, August 14th. Freedom Capital upgraded Heartflow to a “strong-buy” rating in a research report on Tuesday, June 30th. Stifel Nicolaus increased their price target on Heartflow from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $45.00 price objective (up from $38.00) on shares of Heartflow in a research note on Friday, August 14th. Finally, JPMorgan Chase & Co. upped their price objective on Heartflow from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Heartflow currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.43.

Heartflow Stock Up 0.7%

Heartflow stock opened at $45.53 on Thursday. The company’s 50-day moving average price is $30.00 and its 200-day moving average price is $28.05. The company has a market cap of $3.96 billion and a PE ratio of -24.88. Heartflow, Inc. has a twelve month low of $20.13 and a twelve month high of $47.23.

Heartflow (NASDAQ:HTFL) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.15. The firm had revenue of $64.08 million during the quarter. Heartflow had a negative net margin of 55.82% and a negative return on equity of 23.52%. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. As a group, sell-side analysts expect that Heartflow, Inc. will post -0.82 earnings per share for the current fiscal year.

Heartflow Profile

HeartFlow, Inc (NASDAQ: HTFL) is a medical technology company that develops non-invasive diagnostic solutions for coronary artery disease. The company’s core offering translates coronary CT angiography (CTA) data into a patient-specific, three-dimensional physiological model of the coronary arteries. Using advanced image processing and computational modeling, HeartFlow’s analysis estimates fractional flow reserve (FFR) values throughout the coronary tree to identify ischemia-producing lesions without the need for invasive pressure-wire measurements.

HeartFlow’s cloud-based service integrates with clinical workflows: clinicians submit coronary CTA images and receive a detailed, color-coded 3D map and report that highlights lesion-specific FFR values and physiological impact.